2025 is really not the year for the faint hearted. We have a USA president that is weaponizing tariffs to change world order to prevent the rise of China and forcing company to shift manufacturing back to USA. Whether it is effective or not still remains to be seen, but cost is rising in USA as these tariffs are pass on to customers. We also have 3 regional military conflicts happening within a single year, from "Thailand - Cambodia conflict" to "Israel - Gaza Hamas war" to "Russia - Ukraine war" which is still on-going after 3 years, it is really beyond words that stock market can continue to rise and break their respective top records. In USA this year, we have the AI related industry leading the way, while back in Singapore, we have our 3 top banks to thank for as investor flock to these safe heaven equity.
DJI ended at 48063, an increase of 1666 points (+3.59%) compared to 3Q 2025. For Singapore, STI ended at 4646, an increase of 346 points (+8.04%) compared to last quarter. Banks in Singapore (50.5% STI weightage) continues to drive the STI direction and for once, STI has outperform DJI significantly.
With 2024 drawing to a close, it is time for the annual review against my 3 year plan (Next 3 years (2023 - 2025) Investment Plan) set back in Nov 2022. Below are my result:
Original 2023-2025 plan:
- 50% Equity, 50% Reits/Trusts
- Portfolio Dividend Yield to be 3.80% in 2023, 4.30% in 2024, 4.80% in 2025.
End 2025 result:
- 49.56% Equity, 50.44% Reits/Trusts
- 78.29% SG Equity, 21.71% USA Equity
Portfolio Yield at 3.73% in 2025 (+0.27% from 2024, and miss 2025 4.80% target)
Verdict: Miss Target
Note: In 2025, Prime US Reit only gave out dividend at a reduced rate (50%). Keppel Pacific Oak US Reit elected to suspend dividend until 2H2025.
Below is my end 2025 portfolio snapshot:
Total dividend received in 2025: $7,758.09 (~$646.50/month)
In this quarter, I did a few buy-ins for REITS that I felt is currently undervalued, so as to position myself for the recovery in the next 2 years.
Transaction 1: Bought 1 batch Prime US REIT shares in December.
The USA real estate has began to recover as tenants started expanding for more office space to accommodate more employees returning back to office. All these will be positive for USA REITs as their occupancy rate rises. Not to mention, Prime has started to increase the dividend rate from 10% to 50%
Transaction 2: Bought 1 batch DBS shares in December.
Our darling for the year as a series of strong results cause the share price to rise from $43+ in January to $56+ (+30%) in December. Who knows if this continues on, we may see a $100 DBS in the next 3 years.
Transaction 3: Bought 1 batch IREIT Global shares in December.
Berlin Campus is currently in the process to change from a single-let property to a multi-let, mixed-used property. Target to finish in 2027, it should directly result in a dividend increase. Time to buy in first for positioning while the price is low.
Transaction 4: Sold 1 batch Marriott shares in December.
I just think it is time to cash in while the price is high and use the proceed to buy in Visa as it is a more stable equity whose price will rise with time due to their share buy-back program.
Transaction 5: Bought 1 batch Visa shares in December.
For stability in slow price appreciation due to their share buyback program and improvement in business year after year.
That is all for now. See you all in Q1 2026 update and thank you for reading thus far.
